Company formation in Bulgaria

How to open a company in Bulgaria with us?

1. Visit Sofia or do it remotely

We prepare the documents and you sign them. You choose whether to visit Sofia or do it remotely.

2. Notary and bank

Some documents need notarization. If you choose the remote option you will have to visit the nearest Bulgarian embassy/consulate for notarization so we can open the capital raising bank account and deposit the capital for you.

3. Company registration

When you sign and attest the documents we file them for registration. Company will be registred in 2-3 days.

More details about the process of company formation in Bulgaria

What we initially need for preparing the documents for a new company is the following information:

Copy of owner/director’s passport/ID;

The name you want for your company;

Scope of activity;

Capital of the company (minimum is 1 euro);

Registred address (mandatory – we provide this service in our Premium package).

When we have this information we prepare bilingual documents (Bulgarian and English) and you have to sign them. If you choose the remote option we send the documents by email.

Remote registration

If you prefer to open the company remotely, you will have to visit the nearest Bulgarian embassy because some documents need notarization. Those are the directors specimen signature and a power of attorney for us for opening the capital raising bank account. When you are done with signing and notarization, you send the documents back to us by DHL. We open the account and deposit the capital for you then file the documents in the Registry agency for registration. Company is done in 2-3 days.

Next step is VAT registration. This is the second time you have to visit the embassy. That’s because the VAT registration is a separate procedure and can be done only when the company is registered. We need a power of attorney from now the director of the company in order to file the documents for VAT registration and also open the actual bank accounts of the company. The capital raising one can only be used for depositing the capital and not for payments.

Visit Sofia

If you choose to visit us for the formation you will have to stay in Sofia for about 3-4 days. After the registration which takes 2-3 days, you have to sign more documents for the VAT registration and open bank accounts for the new company.

Important about bank accounts

Every company needs to open a capital raising bank account in order to deposit the initial capital. This is mandatory for the formation – we can’t open a company without a bank account and deposited capital.

Regarding the Anti-money laundering Law every client has to be checked in details by the bank before they open a bank account.

There is a chance that not everybody gets approved by the bank and that means company formation is not possible.

Need more information?

Limited liability company

Probably the most common way of doing business all over the world. Also known as Ltd. in the UK and LLC in the USA. In Bulgaria this kind of entity is called OOD for a company with two or more partners and EOOD for a single shareholder firm. The minimum capital for a limited company in Bulgaria is 2 BGN which is about 1 EUR.

Joint stock company

A joint stock company is the business entity in which the capital consists of stocks. Usually it’s the preferred kind of company when it comes to businesses with bigger capital. The minimum capital for opening a JSC in Bulgaria is 50 000 BGN which is 25 600 EUR.

Advantages of having a company in Bulgaria

It is really easy and affordable to have a company in Bulgaria. You don’t need to be a Bulgarian resident to be able to have a company in the country. Having a company makes it easier to receive a Bulgarian residence if you need one. Taxes in Bulgaria are among the lowest in the EU which makes it one of the most preferable countries to have a business in.